Cameco’s 2025 production forecast is changing due to development delays with transitioning the McArthur River site.

As the company transitions the mine into two new areas, the risks include development delays, the ground freezing prematurely, access to skilled labour, and the timing of commissioning new customized equipment.

Production from the McArthur River/Key Lake operation was slated to total 18 million pounds this year, but that estimate has fallen to be between 14 million and 15 million pounds of uranium concentrate.

Despite the bad news, Cameco says in a statement that a strong performance at the Cigar Lake mine may partially offset the deferred McArthur River production.